CommBankCommonwealth Private Bank Account
The Commonwealth Private Bank Account is an interest bearing transaction account which pays a banded interest rate and is exclusively available to Commonwealth Private Bank clients.
At a glance
- Base rate
- 0.70%
- Monthly fee
- $0
How it compares
This account in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
| Rate | This account | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| No bonus conditionsPaid whatever you deposit or spend | 0.70% | 4.80%MoveBank's Online Saver | 2.25%of 61 institutions | 46th highest of 61 |
Rates
Every rate CommBank publishes for this account, 7 in all.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableThe interest rate that applies on overdrawn amounts. This is calculated daily and charged monthly/quarterly. | - | - | - | 14.90% | - | - |
| VariableInterest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | - | - | up to $100,000 | 0.70% | - | paid every 1 mo |
| VariableInterest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | - | - | $100,000–$250,000 | 0.70% | - | paid every 1 mo |
| VariableInterest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | - | - | $1,000,000–$5,000,000 | 1.35% | - | paid every 1 mo |
| VariableInterest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | - | - | $250,000–$500,000 | 0.70% | - | paid every 1 mo |
| VariableInterest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | - | - | $500,000–$1,000,000 | 0.70% | - | paid every 1 mo |
| VariableInterest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | - | - | $5,000,000+ | 2.35% | - | paid every 1 mo |
Rate changes
6 changes logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 9 Oct 2026 | Variable, up to $100,000 | 0.45% | 0.70% | up 0.25 |
| 9 Oct 2026 | Variable, $100,000–$250,000 | 0.45% | 0.70% | up 0.25 |
| 9 Oct 2026 | Variable, $1,000,000–$5,000,000 | 1.10% | 1.35% | up 0.25 |
| 9 Oct 2026 | Variable, $250,000–$500,000 | 0.45% | 0.70% | up 0.25 |
| 9 Oct 2026 | Variable, $500,000–$1,000,000 | 0.45% | 0.70% | up 0.25 |
| 9 Oct 2026 | Variable, $5,000,000+ | 2.10% | 2.35% | up 0.25 |
Each change is logged the night it appears in the rates CommBank publishes. See how every lender answered the RBA on the rate tracker.
Fees
8 fees published, grouped by when they're charged.
While you hold it1
- Account Fee
There is no account fee for this product.
No fee
When you make a transaction4
- Access fee - Overseas purchases
Purchases made overseas or in Australia (e.g. online), where the merchant is located overseas or the financial institution or entity processing transaction is located overseas. Where your international purchases are made using an eligible World Debit Mastercard, the access fee will be $0.
3.50% of transaction - Access fee - ASB Bank ATMs in NZ and overseas CommBank ATMs
When you take money out at ASB ATMs in NZ or CommBank ATMs outside Australia. When you make an international purchase, or withdraw cash at an ATM overseas using an eligible World Debit card, the access fee will be $0.
$2 - Access fee - Other overseas cash and ATM withdrawals
Any other cash withdrawals overseas will incur a fee of 3.5% of the transaction value plus a $5.00 fee. When you make an international purchase, or withdraw cash at an ATM overseas using an eligible World Debit card, the access fee will be $0.
3.50% of transaction - Assisted withdrawal feeNo fee
When particular things happen3
- CBA ATM cash withdrawals in Australia
Free.
No fee - Monthly card fee
A monthly card fee for Debit Mastercard holders with an approved World Debit Mastercard.
$10 - Unpaid cheque or debit fee
When we dishonour a cheque or debit presented to us because there isn't enough money in your account. We may waive certain fees or charges at our discretion. The failure by us to charge any fee or ch…
$5
Features
- Securely lock your debit card in the CommBank app when you need to. And unlock it again when you don't.
- Access a range of travel benefits through Travel Booking (provided by Hopper) for eligible customers.
- Free assisted withdrawal is available for you to take money out at a Commonwealth Bank branch or a post office or agency, with telephone banking if using an operator, or by cashing a cheque.
- You are not required to have a card to use this product.
- Manage payments from your bank account using PayTo.
- Use QR Cardless to withdraw cash or deposit notes, coins and cheques (subject to product eligibility) by using the latest version of the CommBank app to scan a QR code at a compatible CommBank ATM.
Eligibility and limits
- Minimum age 18
- The Commonwealth Private Bank Account is available to non-personal customers who have a domestic business, an ABN or ACN with signatories aged 18 and above or signatories after 16 to 18 with another…
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Published by CommBank under the Consumer Data Right, last changed by them on 9 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.